Stellus Capital Management provided senior debt financing and an equity co-investment in support of Summit Park’s acquisition of Michelli Weighing & Measurement, a provider of test and measurement services and equipment.
Founded in 1947 and headquartered in New Orleans, LA, Michelli is a best-in-class provider of calibration, maintenance, inspection, repair and installation services and product sales and rentals for heavy and medium-capacity scales, precision measurement devices and calibration equipment. The company operates out of 30 locations located across 11 U.S. states throughout the Southeast, Texas and the West Coast. Michelli’s field-technicians and lab-based metrologists provide re-occurring service to more than 6,000 customers within a wide variety of end markets, enabling them to meet their goals of accuracy, quality and safety while complying with an ever-changing regulatory environment.
“Michelli has built a leading brand within the calibration services market and we are excited to partner with the entire Michelli team to continue to support the company and to capitalize on significant growth opportunities within both the industrial weighing and precision measurement markets.” Andrew Gilbert, partner at Summit Park, said. “We appreciate the support and partnership provided by Stellus throughout the transaction process and we look forward to working together to accelerate Michelli’s growth.”
“We are thrilled to partner with Summit Park to support the Michelli acquisition and the team’s strategy to expand the company’s service offering and grow through greenfield and acquisition opportunities,” Gavin Roseman, managing director at Stellus, said. “Summit Park’s investment experience within the sector coupled with the company’s strong foundation and favorable industry tailwinds position Michelli for long-term growth.”
